New York, February 4, 2026, 13:38 EST — Regular session underway
XRP dipped once more on Wednesday, falling 1.7% in the last 24 hours to $1.51, after briefly dropping to $1.50. The token fluctuated between $1.50 and $1.63 during that period, with roughly $4.4 billion in trading volume, according to CoinMarketCap data. 1
This comes as traders weigh new pressure from Washington on the Federal Reserve and its upcoming leadership shake-up. Democratic senators on the Senate Banking Committee have urged Chairman Tim Scott to postpone the nomination process for Kevin Warsh, President Donald Trump’s choice to succeed Jerome Powell when his term wraps up in mid-May. 2
Policy uncertainty is brewing at the White House. A closed-door session with banks and crypto groups, meant to break the deadlock on digital-asset market-structure legislation, wrapped up with no deal. The main sticking point? Whether issuers should be allowed to pay interest or other rewards on stablecoins — those dollar-pegged tokens. 3
Ripple, best known for XRP, dropped a separate announcement. Its Ripple Prime institutional prime brokerage platform now supports Hyperliquid, a decentralized derivatives venue. This update lets clients tap into on-chain derivatives liquidity and cross-margin positions—meaning they can offset margin requirements across exposures within a single account. Michael Higgins, international CEO of Ripple Prime, said this step “will enhance our clients’ access to liquidity.” 4
The broader crypto market remains volatile following a steep wave of liquidations. Bitcoin traders have seen $2.56 billion wiped out in recent days, according to CoinGlass data. “People are stepping back” to rethink their risk strategies, said Adam McCarthy, senior research analyst at Kaiko. Jim Ferraioli, director of crypto research and strategy at Charles Schwab’s Schwab Center for Financial Research, was blunter: the main threat comes from “outside forces.” 5
On Coinbase, XRP has dropped roughly 21% compared to a week ago and slipped around 2% in the past 24 hours, highlighting how sharply sentiment has shifted this month. The platform shows XRP’s circulating supply at approximately 60.85 billion tokens, out of a total cap of 100 billion. 6
XRP remains weighed down by its protracted U.S. regulatory battle. The SEC wrapped up its lawsuit against Ripple last August, imposing a $125 million fine and an injunction barring XRP sales to institutional investors, Reuters reported. 7
The next policy move, rather than a product update, might really shift the mood. Should the Fed nomination battle drag out or stablecoin rewards spark tough legislation, traders could push for a higher risk premium — keeping XRP under pressure.
The next key date is the U.S. January jobs report, set for Feb. 11 after delays caused by the shutdown. Any unexpected move will instantly shift rate expectations, and crypto markets have been reacting to that volatility live. 8
